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.s. department of justice report about h.s.b.c. holdings, one of the largest banks in the world. to avoid criminal prosecution, h.s.b.c. admitted today that it laundered more than $800 million for mexican drug cartels and covered up illegal transactions for burma, iran, sudan, cuba, and libya. those nations were under banking sanctions because of human rights atrocities, terrorism, or, in iran's case, a nuclear program. the british bank will pay $1.9 billion to the u.s. government, the largest such fine in history. senior correspondent john miller is in new york following the story for us tonight. john? >> reporter: scott, it's a case that has everything: everything except an arrest. and that struck some as odd because in an 80-page document of court papers, the bank admits to almost going out of its way to act as a financial clearing house for international pariahs and drug dealers. h.s.b.c. officials listed mexico in its lowest risk category for money laundering during a four- year period when mexican drug cartels were funneling hundreds of millions of dollars through the bank. u.s. att
. they then funneled hundreds of millions of dollars of transactions through the united states through hsbc there. be evading u.s. prohibition on such transactions by disguising the force of the fund so payments could go for a. hsbc has admitted its guilt to the four count information filed today which sets forth two violations of the bank secrecy act, violation of the international emergency economic powers act and violation of the trading with the enemy act. as part of its resolution of these charges hsbc has agreed $1,256,000,000, the largest amount ever by a financial institution for compliance failure. they also agreed to pay civil penalties of $665 million to resolve parallel regulatory actions brought by the office of the comptroller of currency and the federal reserve bank for a total recovery of over $1.9 billion. the resolution also requires hsbc to implement a series of compliance reforms that we expect to become a model in the financial industry. today's resolution involves multiple agencies and the culmination of years of investigation and analysis. the bank secrecy act investigation
both for coming in. my next guest says hsbc is guilty of the worst behavior any bank can of. we'll tell you how a $1.9 billion fine is hardly enough and i could not agree more coming up and good luck. ♪ [ boy 1 ] hey! that's the last crescent. oh, did you want it? yea we'll split it. [ female announcer ] made fresh, so light buttery and flakey. that's half that's not half! guys, i have more! thanks mom [ female announcer ] pillsbury crescents. let the making begin [ singing christmas carols in background ] aunt sally's singing again. it's a tradition honey. [ singing christmas carols ] mmmm. [ female announcer ] make new traditions with pillsbury grands! cinnamon rolls. >> eliot: so let's take a look at what eric holder and lanny's department of justice has done. theyey brought a case against roger clemens and lost. they brought a case against john edwards and lost. they brought countless frivolous drug cases to pad their stats. what about torture? they said they wanted to be forward-looking which defies the job of a pr
pennsylvania. >> woodruff: we examine an almost $2 billion government settlement with british bank hsbc over charges of money laundering for the nation of iran and mexican drug cartels. >> suarez: jeffrey brown profiles chinese artist and dissident ai wei wei, whose work is on exhibit in the u.s. for the first time. >> if we can change ourselves, that means part of society will change. if more people can do so, then we can change the society. >> woodruff: and we look at what the federal trade commission calls a "digital danger zone," mobile applications that gather data about children. >> what needs to be done is a way for parents to easily at any time see exactly what's being collected and who they are sharing that information with. >> woodruff: that's all ahead on tonight's newshour. major funding for the pbs newshour has been provided by: moving our economy for 160 years. bnsf, the engine that connects us. >> and by the bill and melinda gates foundation. dedicated to the idea that all people deserve the chance to live a healthy, productive life. and with the ongoing support of these insti
-erian joins us. he's the c.e.o. of pimco. >> tom: still head, british bank hsbc agrees to pay a record fine for laundering mexico drug money. >> susie: it's a major hit to organized labor-- michigan approved legislation today that would greatly limit labor rights. protestors swarmed the state capital as lawmakers passed a bill prohibiting unions from requiring employees to join and pay dues. the move would make michigan, one of the most union-friendly states, the 24th "right to work" state, where union dues are voluntary. >> tom: more bumpy skies for boeing's 787 dreamliner. boeing's much anticipated and high-profile plane was grounded last week, according to "the new york times." the federal aviation administration also has ordered that fuel line connectors on all 787s be inspected. analysts call these problems minor hiccups. but as sylvia hall reports, the dreamliner's profitability to boeing right now is raising bigger concerns. >> reporter: boeing's 787 dreamliner promises to use about 20% less fuel than other planes. that's a big deal for an airline industry struggling with fuel costs.
a pro. melissa: breaking news right now. the justice department announcing hsbc will pay a whopping $1.9 billion to settle a money-laundering probe. o'connell charges be filed? adam shapiro in the news from following this story so closely and has more now. adam. >> we're all getting caught up in $1.9 billion historic fine, but not one person from hsbc will be prosecuted for what the assistant u.s. attorney general says was blatant and egregious violations of u.s. law. it is worse than that. they went on his hsbc work with governments to break the law, foreign governments with terrorists they threatened by their actions the lives of u.s. citizens. saying at one point, and this is a quote, he says i don't think anyone is alleging hsbc was the mastermind of many of these schemes. rather the compliance was so lax that it was allowed to happen. listen to what he said at the beginning of the conference about how hsbc helped governments rake the law. in his own words. >> on at least one occasion hsbc instructed a bank in iran how to format payment messages so that the transactions would not b
and more importantly, what's going to happen tomorrow. >> cenk: hsbc is a british bank, one of the largest in the world. they were recently caught dealing not only with drug records and running their money across the world but also al-qaeda and other terrorist groups. of course, as you know, in today's world there will be no consequences. there's a minor fine, but absolutely no one will go to jail. ryan ross of abc news has more. >> when the most ruthless members can he be drug cartels wanted to hide their money they went to hsbc, along with terrorists, all customers of a bank known around the world. today, u.s. authorities said they were holding the british-based bank account automobile. psbc agreed to pay a record $9.12 billion in forfeitures. >> the largest ever. a did he everred prosecution agreement means there will be no prosecution of the bank or its top executives despite more than a decade of dealing with criminals and terrorists. >> cenk: now you heard their record fine, $1.9 billion sounds like a lot of money. why do i say it's a small fine. there's the executives testifying. th
from lansing. not one worker from europe's biggest bank, hsbc, will far us a criminal charge after they were accuses of failing to guard against terrorists, tax cheat and drug cartels but agreed to pay a record $1.9 billion fine to settle the case. that probably won't hurt this bank at all. last quarter, they reported $2.5 billion in net profit. according to the treasury, the failure to police transactions allowed hundreds of millions of dollars in drug money from mexican cartels to flow into the united states. the feds report the bank broke finance laws when they did business with iran and libya and cuba and others. under their deem with the feds, the bank will pay the record fine, change some policies, but not one bank employee will ever face criminal prosecution. the prosecutors say department of justice officials wanted to bring criminal charges but decided not to not because of a lack evidence but because it would put the future of the largest banks at risk. think of that. not because they didn't have the goods. they were worried about the banking system. this says clearly it
's how it goes. hsbc perhaps even worse. here's a bank that did business with apparently the bank that funded al-qaeda, including wiring money to one of the 9/11 attackers that did business with the drug lords. what do they get? a $1.5 billion fine. nobody gets arrested. why? they're too big to jail. brian asked about that in this report. watch this. >> this is a very just, very real and very powerful result. >> you don't think the bank got off easy? >> no, and i don't think the bank thinks it got off easy. >> $38 billion in profits over the last two years hsbc can easily afford it's payment. >> cenk: yeah, a joke. nonsense. i mean, the fact that these guys are not in jail when they're the biggest money launderers for drug straighters in the world. stephanie george is sitting in jail and has a life sentence because her exboyfriend hid cocaine in her attic. her earlier convictions were for drug transactions equalling $40 and $120. $40 and $120, life sentence. the top bankers who funneled all the money to the drug lord says, no sentence. there's just no justice in that. kneel parovs
" time on tuesday. a record fine for hsbc, and could apple's faulty maps be life threatening? ashley morrison with that and more from new york. good morning to you. >>> good morning to you. asian markets were cautious as u.s. leaders agreed to reach a budget deal to avoid the fiscal cliff. tokyo's nikkei gained a fraction while hong kong's hang seng added a quarter percent. >>> this week the federal reserve is expected to announce a new bond-buying program aimed at lowering interest rates. if it works, it might soften the blow if the nation goes over the fiscal cliff. fed chair ben bernanke has said if a budget deal can't be reached, there's little the central bank can do to offset the shock of those spending increases and tax cuts. >>> a strong sales report from mcdonald's offset wall street's worries about the fiscal cliff negotiations. the dow added 15 points while the nasdaq gained 9 points. >>> hsbc is paying a record $1.9 billion to settle a federal and state money laundering probe. the british bank was under investigation for allegedly transferring billions of dollars on behal
hsbc. the government says the british bank did business with drug lords and terrorists yet faces no criminal charges. brian ross reports. >> reporter: when the most ruthless of the mexican drug cartels wanted to hide their money, they went to hsbc. so did hamas and al qaeda, along with iran and other countries and the u.s. financial blacklist. all customers of a bank known well around the word. but given much less prominence in the announcement was a deferred prosecution agreement with hsbc, meaning there will be no prosecution of the bank or its top executives. despite more than a decade of dealing with criminals and terrorists. >> this is a very just, very real and very powerful result. >> you don't think the bank got off easy? >> no, and i don't think the bank thinks it got off easy. >> reporter: but with $38 billion in profits over just the last two years alone, hsbc can easily afford its $1.92 billion payment. >> this is a signal to other banks that if you do this kind of stuff, you'll get a parking ticket, you'll pay the fine and move on. >> reporter: since this summer, whe
to the meltdown. also today, global banking giant hsbc agrees to a record payment $1.92 billion. yes, that's billion with a b to settle accusations of money laundering. check this out. a report by the senate banking committee found that hsbc in mexico shipped $7 billion in cash across the u.s. border. 7 billion bucks, no way there wasn't a bunch of drug money there. great guest here on this today, a man who told me at the commercial break likes to get to say, i told you so. neil barofsky, the head of hsbc here, his name is stuart gulliver. we accept responsibility for our past mistakes, goes on to say we have said we're profoundly sorry and we say so again. neil, is there any way these banking officials did not know they were dealing with drug money? >> look, you look at the scope and size of the conduct that is described in the settlement and just the number of the settlement of $2 billion. >> huge. >> the notion this wasn't something that was known on senior levels of the banks. at least they had plenty of reason to suspect that this was ongoing. and gulliver should be happy today. he ju
, global banking giant hsbc will pay 1.9 billion dollar fine to settle allegations it engaged in money laundering. the money is believed to be tied to mexican drug cartels even terrorism. hsbc says it accepts responsibility for past mistakes. analysts point out the bank will earn back the fine in a little more than one month. >>> new this morning the air force is getting ready for another test flight of new experimental space plane pro row time of the x-37b will blast off into space today from cape canaveral, florida. this video provided by the air force, launch time set for 10 a.m., our time. the vehicle is being developed as reusable unmanned space vehicle. >> in the last hour we learned delta is buying a 49% stake in virgin atlantic airlines, delta wants better access to heathrow in hahn done, the two are agenting in -- in london. virgin atlantic owned by sir rich and branson who owns a stake in virgin america airlines. >>> got milk? the reason fewer americans are drinking dairy. >>> first, cashmere sweaters. michael finney and consumer re >>> we come back. water vapor in the air, n
.9 billion, that's how much global banking giant hsbc is paying the united states government to resolve accusations of money laundering for mexican drug cartels and terror-linked groups in saudi arabia. business correspondent christine romans joins us now from new york, and it's a serious allegation here. >> it really is and the group hsbc, the uk's largest bank wants to put this behind it, trying to settle the serious allegations, $1.92 billion will be what they will pay the u.s. government, there will be a press conference later today, the justice department, the manhattan d.a. and others to put this to rest. banks operating in the u.s. have an obligation to know their customer and abide by u.s. laws and u.s. sanctions against some pretty bad characters and hsbc apparently didn't do that. that's the allegation of the united states government, helping transfer money for drug cart cartels, for terrorist groups, for countries we're not supposed to be doing business with overall. these sanctions around libya, myanmar, syria and mexican cartels, this is what hsbc says, wants to put the who
,000 people worldwide. bank of america and hsbc combined plan for 40,000 layoffs this year. ubs said in october it would cut 10,000 workers. all told, more than 300,000 financial industry jobs have been lost worldwide during the past two years. the bank belt-tightening is expected to continue in 2013. macs are making their way back to the u.s. apple ceo tim cook told bloomberg this week the company will begin manufacturing a line of mac computers in the u.s. most of apple's products are made in asia. factories such as foxconn, a major apple supplier, have come under heavy scrutiny for low wages and poor working conditions. cook said the company will spend $100 million on the manufacturing move in the states, but no word yet on where it will take place. in other apple news, the iphone is getting picked up by another carrier. t-mobile will begin selling the iphone next year. talks are back in the fiscal fight. according to the wall street journal, the staffs for president obama and house speaker boehner are talking again. it follows a nearly week-long silence. wednesday, the presdient
. >>> well, this morning, an apology and an impressive find for a british banking giant. hsbc will pay a record $1.9 billion to settle a u.s. criminal probe alleging the firm ignored red flags about money laundering for years. today the bank admitted to a breakdown of controls. >>> meanwhile, standard chartered is shelling and selling out a smaller but still significant sum of $327 million for violating u.s. saks sancti against iran, sudan, and two other countries. >>> the u.s. treasury is selling its remaining stake in aig for just under $8 billion. that ends the era of government ownership. >>> on the street, hp, the dow's worst performer shot up on rumors that activist investor carl icahn is building a stake in the pc maker. meanwhile mcdonald's gave blue chips a boost in better than expected sales. apple and google have reportedly combined their competing bids for a bundle of kodak patents. former imf chief dominique strauss-kahn and a maid have agreed to settle a suit. the dollar amount will remain confidential. >>> retailers hired 465,000 seasonal workers land month. up 25% from
. bankings are usually in the business of making money and not handing it over. in a record fine, hsbc pays $1.9 billion to settle u.s. allegations of money laundering. our chief economics correspondent has all the details. >> the largest bank in money- laundering, cartels washed through the bank. it resulted in a $1.9 billion fine, the biggest in u.s. banking history. the american authorities >> the corruption of the financial system by drug traffickers and other criminals, and free evading u.s. sanctions and law. >> they find $7 billion will be transferred between mexico and the u.s.. there were 25,000 transactions involving iran. in $290 million in suspicious traveler's checks were cleared by the bank. in a statement, they said they were story -- sorry for past mistakes. the former chairman was appointed as trade minister for david cameron. he had this to say when the allegations emerged in july. >> there were failures of the implementation, they expressed regret for that. it is a company i am proud to have worked for. >> they are not the only british bank to run these. the accusations o
with that big loss, goldman sachs makes list, hsbc. did it change people's perceptions of these big banks? > > when we look at the data, we can see that trust in the financial service industry has further eroded. so any time you have a crisis like that, it has an impact on the company overall. but when you have a bunch of companies together, it does erode trust in the industry as a whole. > there was also a tragic event that made the list: costa concordia. > > yes. costa concordia, we all remember the images of the half-tipped-over cruise ship right there off the coast of italy. it was a tragic case, it was obviously a loss of lives and a tragic situation all around. what made it particularly striking, however, was some of the kind of bizarre circumstances surrounding the behavior of the captain at the time. and that immediately raised questions about the safety standards at the operator. > that's right, thoughts of an affair with a younger woman, and there were just a lot of details on that. moving on to apple and foxconn. this was a shocking story to a lot of people as to how people wer
. >>> british banking giant hsbc agreed to pay $1.92 billion to settle a money laundering investigation here in the u.s. hsbc is accused of transferring billions of dollars for nations like iran doing business with firms linked to terrorism and enabling mexican drug cartels to move money illegally through u.s. subsidiaries. the settlement represents the largest pen the ever paid by a bank. >>> now pot is officially legal in colorado. people 21 and older may have up to 1 ounce of weed, smoke it, not in public and grow a small amount at home as well. the governor has created a task force to help implement the law. here's the problem. it's complicated. the federal government still says marijuana is illegal. >> rocky mountain high. i'll be the billionth person to say that. >>> countdown to double secret lift jop. the space plane is cleared to lift off at 1:05 p.m. eastern time from cape canaveral. this is an unmanned reusable mini verlgs of the space shuttle. it lifts off vertically and lands on auto pilot on a runway. no one knows what it's carrying. the cost to develop it, that is also classif
%. a move snapping two straight days of gains. ashley: on deck hsbc paying uncle sam nearly $2 billion for money-laundering by fox news judge andrew napolitano says the bank owes nothing. tracy: first, a look at the 10 and 30-year treasuries heading out to break. >> i am lori rothman. comments from house speaker john boehner on the ongoing fiscal cliff negotiations continuing to weigh on the market. boehner saying spending is the issue getting in the way of a deal. right now the dow is down 74 points. looks like maps on the iphone are headed in a better direction. this is the mover in google maps from the device, apple finally approve of the google its app store. the own attempt at maps was a massive disaster even lead to a rare apology from ceo tim cook. jobless claims fell for a fourth straight week. the market may be improving. marking the second lowest claims this year. you have a slow moving average. that is the latest from the fox business network giving you the power to prosper. ashley: breaking news from major league baseball. the associated press reporting texas rangers gm say
.s. authorities are preparing to announce a record $1.9 billion settlement with hsbc to settle multiple investigations that the bank ignored possible money laundering. hsbc admitted to poor money laundering controls last summer following a u.s. senate investigation. >>> the journal reports that the settlement could be announced as early as tuesday. >>> petsmart and limited brands are the latest in a long list of u.s. companies offering special one-time payments or accelerated dividends before scheduled tax hikes in the new year. petsmart declared a special dividend of 16.5 cents a share payable to investors december 30 first. it would have been payable in february. that is the latest from the fox business network, giving you the power to prosper liz: so the robert f. kennedy center for justice and human rights is holding its annual holiday auctions. this one's amazing for business viewers. it is ending tomorrow. this year the fund-raiser is featuring a whole bunch items with financial leaders one of whom joins us right now. robert wolf is the ceo and founder of 32 advisors and formerly
. >> europe's biggest bank, you heard about this, hsbc agreed to pony up close to $2 billion to settle accusations of money laundering. the senate banking committee they found that hsbc in mexico shipped $7 billion in cash, mind you, across the border, maybe turned a blind eye to where the money came from, want you to listen to neil barofsky, we had him on the show yesterday, and i asked him whether top bank officials knew they were handling drug money there. >> the notion that this wasn't something that was known on senior levels of the banks, at least they had plenty of reason to suspect that this was ongoing and, look, i think somebody described it as the biggest slap on the wrist in the history of banking fines. >> stuart gulliver receiving the big wrist slap in terms of bank fines. told me 2 billion bucks, that was chump change and it shows that crime pays. what do you think? >> i think any big bank, anybody in charge of the bank, bears responsibility for the conduct of the bank. hsbc is a famously tightly run bank. obviously the people at the top had to know something was amiss.
israel coming up next. >>> does the nfl have a gun culture? >>> and business news. >> hsbc, what they are accused of. in moments. you're watching "starting point." [ sniffs ] i have a cold. [ sniffs ] i took dayquil but my nose is still runny. [ male announcer ] truth is, dayquil doesn't treat that. really? [ male announcer ] alka-seltzer plus fights your worst cold symptoms, plus it relieves your runny nose. [ breathes deeply ] awesome. [ male announcer ] yes, it is. that's the cold truth! >>> good morning. welcome back. i'm christine romans. minding your business. three british nationals arrested in connection with the libor rate fixing scandal. libor rate is used to set rates on loans. three arrests out of the uk right now. >>> u.s. stock futures higher. fiscal cliff talks, federal reserve meeting in washington, two drivers for investments over the next couple of days. futures holding in there for now. >>> federal and state authorities have reached a record-setting settlement with british banking giant hsbc. europe's largest lender has agreed to a staggering settlement. this i
. and there are some major deals in the works this morning. overnight, hsbc confirmed a record $1.9 billion settlement with the u.s. in return, the british-based banking company won't be charged with money laundering. a criminal prosecution of europe's largest bank might destablize the global system. >>> that closes the books on the biggest bailout. the government's 16% stake is worth almost $8 billion. >> made a profit off of that deal. >>> thanks to the surge in online shopping, shipping services expecting a record-setting year. a record number of packages are in the fedex pipeline after its busiest shipping day ever. abc news got a special look inside its global hub in the city of memphis. by yesterday afternoon, more than 19 million packages had been shipped. 10% more than the busiest day last year. business is up. >> mind-boggling. >>> facebook and gmail seem to be all right this morning. but both services had brief outages. some users had problems with google calendar and documents for about an hour. there's no word from google about the cause. facebook said it changed a web address. that outage
of embarassing moments throughout the course of the year. barclays and hsbc both lost ceos after an investigation revealed the banks had manipulated libor, a benchmark interest rate, for the benefit of their firms. still to come, how counterfeit wine may be sneaking its way into your glass. that's later. but first, will the box office hit the billion-dollar record? what movies could stand in the way, after these "in the know" messages. wñ this just could be a record- breaking year at the box office. with just a handful of days left, the 2009 record of more than $10.5 billion spent at the movies is within reach. with us is erik childress of the chicago film critics' assoc. hi erik. > > hello. > so, what did everyone see last weekend? > > last weekend you had a bunch of new openings come up. you had tom cruise's latest film, "jack reacher," did only about $15.6 million. one of his lesser openings for the better part of his career. judd apatow's "this is 40" made it $12 million. but everyone was still seeing "the hobbit," which, even though the number was down, was still very handily at number one.
ended marginally in the red. hsbc came under pressure after reports say it may pay a $1.8 billion fine over the money dering scandal. in australia, strong jobs data failed to boost the market. the asx 200 finished lower by a quarter percent. sensex still in action now trading lower by 0.4%. back to you. >> all right. catch you later. apple had its worst day in four years dragging down the nasdaq. different story for the dow. at one point dow was up more than 100 points. the last time the index closed up triple dinlg et gains, the way back in may two 2. joining us for the first part of the program, nick khar. thanks for joining us. xetra dax up 52 week highs. which is sort of interesting in several. >> nokia down 9% over the last five years. and i guess the apple story if you're a bear is a potential nokia story, a story about a company that is dominating its space at the moment, but priced for perfection. so who knows if there is a disappoint coming. but if there is, there's not much margin for error. gr it all depends on whether we'll be buying other products other than apple in five
's biggest bank, hsbc, bank santander and international finance corporation are among them. it is layer for a japanese bank to lead such a large, financial deal especially when there isn't any local corporate or government involvement. this project could mark a milestone for japanese banks in their attempt to create a bigger presence in the global market. the plant will be built by braskan and mexico's group odessa. it's due to start operations by 2015. that's all from nikkei business report. back to you, kelly. >> thanks very much for that. >>> now, plans for the london and moscow listings suffered a blow this year when goldman sachs withdrew as a lead individualser on the ipo of alleged corporate governance issues. in a cnbc global exclusive, geoff cutmore asked alisher usmanov if events in october hurt his relationships. >> translator: i have always respected lloyd blankfein. goldman sachs is a company with which we are working with, the company that i control is working with. that is to say, i believe we will continue to work with gold pan sacks in the future. there is no doubt in m
, overnight hsbc agreed to pay 1.9 billion dollars in fines in return the company will not be indicted on money laundering. federal government selling off rest of shares in aig that closes books on biggest bailout shares worth eight billion dollars which means the government made a profit. record number of packages in the fed, pipeline this morning after busiest shipping -- the fedex pipeline this morning after its busiest shipping day. yesterday afternoon more than 19 million packages. beyonce and pepsi have a new partnership, besides the super bowl, beyonce will appear on everything from soda chance to store displays the deal thought to be >>> good morning. brr, 5:13 live look on the embarcadero it is clear out there you can feel the cold. mike is tracking temperatures as low as mid 30s especially north and east bay valleys, rain he says will be arriving tonight. >>> neighborhood watch volunteer charged the shooting death of a florida teenager will be back in court this morning. defense attorneys will ask a judge to end the 24 hour gps monitoring of george zimmerman in the fatal shoo
, it was scandal unpunished. fines against hsbc, expensive mistakes at citi corp, jpmorgan chase cries out for real reform and real arrests of senior executives. where is the justice and where is the justice department? joining me now, dennis kelleher, president and ceo of better markets. dennis, is it fair to say that by in large, wall street and senior executives continue to get off almost scot free? >> the objective evidence proves that to be true. the real question is when is the law going to be applied to wall street like it is applied to the rest of main street and the rest of america. it is interesting, at the conference announcing the ubs settlement of $1.5 billion, the head of the criminal division said crime on wall street will not be tolerated. while he was indicting a japanese subsidiary of a swiss bank. and i know that geographically challenged they may think they're getting closer to wall street but wall street's much closer than either of those places. i can't wait for them to find it. >> eliot: i suppose some
and new york state prosecutors have unveiled their $1.9 billion settlement with the banking giant hsbc for a massive money laundering scheme used by drug cartels and other illegal groups. >> you can do real time in jail and therefore doing ridiculous offenses, or taking it up two subway seats. people go to jail all the time in this country. for having a marijuana stem in your pocket. there are 50,000 marijuana- related cases in america alone every year. and here we have a bank money laundered billions of dollars and they cannot find anyone to put in jail. >> i had a chance to speak directly to leonard peltier when he called into a news conference organized by his lawyers and pete seeger. >> what would you do if you were free? >> probably go home on house arrest. that is the only thing i could expect. i do not think obama would do what bill clinton did. he is not going to give any clemencies until his last year. it is not going to happen. george bush signed the second chance act, which is house arrest, so we are pushing for that. if i do get house arrest, at least i can get some medical
is hsbc, apparently avoiding a criminal indictment but only because filing criminal charges could have destabilized the world's financial system. instead, the bank pay a record penalty. nearly $2 billion this that settlement, and as rick was just mentioning, the bank is facing a slew of accusations including that it transferred funds to mexican drug cartels and also transferred funds to nations like iran, evading international sanctions. charlie gasparino has more from the fox business network. charlie, is this unique only to hsbc, or is in the first domino to fall here? >> well, i mean, there may be other banks, but it follows a pattern that the justice department has used since arthur anderson following the enron scandal. they didn't want to put any more big companies out of business, so they go into these deferred prosecution agreements, today hit the bank with a big fine and then today kind of move on. what's kind of like -- what's not good about this is that if you think about it, shareholders are suffering when you had probably individual employees who committed possible crimes h
legal risks. hsbc this week, agreed to a record $1.9 billion with a "b" settlement of money laundering with sanctions with iran and north korea. some prosecutors wanted to bring charges but the u.s. officials were concerned the consequence would cripple the bank in the u.s. hsbc executive said the bank was quote, profoundly sorry. before taxes, hsbc made $12.7 billion in profits the first half of this year, which makes it too big to prosecute. health care exchanged defined by the affordable care act to get health insurance for coverage and affordability. they will require federal involvement. utah and florida are undecided. 22 states who oppose the president will rely most on the obama administration to make health care coverage available to the residents least able to afford it. finally, where unions stand with chicago mayor rahm emanuel. in the week his former boss la meanted in michigan, he switched a contract to a non-union contractor. 300 union members will lose their jobs. they are not guaranteed full time work, will not have full health care coverage. it's owned by a man describ
. other top headline, five stories, one min. hsbc paying $1.29 billion fine to settle a multiyear probe. the u.s. justice department saying the bank failed to endorse rules to prevent laundering of criminal cash. 49% stake in virgin atlantic airways for $360 million. they begin a joint venture on daily round trip flights between the the u.k. and north america. direct tv charging $3 more a month for sports network for those who want packages above the lowest tier. the 20 # 13 l.a. dodgers set to have the largest opening day payroll in major league baseball history with a recent report saying the payroll is more than $220 million beating out the previous record held by, yes, 2008's david's new york yankees, and speaking of the yankees, dropping stubhub as the retailer of choice. the refusal to set a price floor for transactions prompted the team to opt out of the deal, and, yes, i blew it. you heard the buzzer. david: oh, you were close. we've seen images of angry protesters in michigan heating up all over michigan, but despite the push back, the house there approved a right-to-work bill
will be finalized involving hsbc. the bank is settling a case brought by u.s. government and also authorities here in new york hsbc will pay $1.9 billion to settle accusations it illegally transferred money on behalf of sanctioned nations, including iran and help mexican drug cartels launder monday. >>> a florida woman has been found guilty of first degree murder for shooting a lottery winner in a plot to get his money. a jury in tampa convicted her of the 2009 murder of abraham shakespeare who had won $17 million. he was found buried in concrete in the backyard of her boyfriend. the judge called her cold, calculating, and cruel. >>> we now know the identity of the second lucky winner of that record powerball jackpot. matthew goode had tried to remain anonymous in claiming his share of the $587 million prize. yeah, that didn't happen. it was only a matter of time before his name was discovered. he is originally from pennsylvania, but moved to phoenix area last year. he took a one-time payout of $192 million, telling officials he was worried about paying higher taxes next year because of the fiscal
on to the head and died from his injuries. it is it the largest fine paid by a bank. hsbc agreed to pay 1.89 billion to settle a money laundering case. it is for nations like iran and enabled mexican drug cartels to move money loolly through the american subsidaries. are you ready for some country? ♪ ♪ wrecked my heart. ♪ i should never let go. ♪ the one that good away. >> gretchen: the american country award kicked off in vegas. luke bryant took home nine awards including artist of the year. >> country music. we get to do what we love and for people who are honest and hard working and beautiful people thoo support great music. >> he went on to do the right thing thanking his wife and band and all of the fans and those are your headlines. >> steve: very nice. michigan is poised later today to pass landmark legislation. big labor is furous and marshalling the troops. if you were at the afo head quart ares in michigan, you would have seen cars with license plates from georgia, minnesota and ohio and illinois and they are angry that the people of the great state of the michigan will
that the hsbc bank intentionally allowed prohibited transactions with iran, libya, sudan, and berm a, this is the u.s. department of justice that actually filed these felony criminal charges against the bank. it was widely expected precursor to a deferred prosecution agreement under which the bank would pay $1.9 billion to resolve money laundering charges. some background on a few of these countries designated state sponsors terrorism. >> this morning the number one story days this live action that is playing out in lansing, michigan. you see union supporters chanting an in the say the capitol, so reminiscent of what we saw in wisconsin as they battled the unions in their state. michigan has long been a very solid baston of union support and companies with all the union automakers having a presence there. this is a little bit of the sentiment being expressed by the union supporters on the ground there. >> how can you protect us was a union and protect our collective bargaining rights. it will erode what we worked very hard to achieve if it goes through. >> i'm all for right to work.
in the financial crisis. a slight profit is expected. >>> and hsbc is expected to pay the government $1.9 million to settle accusations that the bank helped launder money for mexican drug cartels and for officials in iran. >>> and take a look at this. massive fireball that you'll see there, streaking across the sky over houston. unfortunately, it was not a ufo. simply a meteor that people saw before dawn, driving. very unfortunate. it was so bright, a camera caught it 500 miles away. had it been a ufo, obviously, a life-changer. >>> and it was supposed to be the game of the year between new england and houston last night. wasn't even close. even when things didn't go as planned, as you see here, well, the patriots took advantage, fumbling into the end zone. why not? tom brady and the patriots steamrolling the houston, texans. the new daddy threw for four scores. and right now, there's no doubt about who the kings of the hill are in the nfl. >> josh, thanks very much. >>> we're going to turn to the brazen shooting in midday, midtown manhattan, just steps away from carnegie hall. a young man execut
. in the united states federal investigators claim hsbc transferred billions of dollars for countries like iran and did business with mexican drug cartels. company officials say they accept responsibility for past mistakes. >>> "the new york times" says top officials in afghan government was shot on her way to work. her predecessor also murdered less than six months ago. >>> the "wall street journal" reports delta airlines is close to a deal to buy 49% of virgin atlantic airways, that would give delta a wider network of flights and more space at heath row, london's main airport. delta would pay singapore airlines 300 million to $500 million for the stake. >>> google avoided paying about $2 billion worldwide income taxes last year. the company moved nearly $10 billion in overseas profits to bermuda, where there is no,, >>> good morning. heading out, grab the jacket. it's chilly in spots. overlooking san jose now not a bad start to the day at all. we have mostly clear skies, some patchy, dense fog in the valleys and fog at the coast.temperatures in the 30s and 40s now, this afternoon 50s and 60s.
to pursue criminal charges against hsbc. the bank admits laundering money from iran, libya and myanmar. chuck grassley calls the lack of charges a declaration that "crime does pay." the justice department did not comment but defends its nearly $2 billion settlement with the bank. >>> two massachusetts costco workers are splitting a $50 million powerball prize. rosa deleon buys two tickets every day and shares them with her co-worker reginald. on wednesday the tickets finally paid off. the two will each get $11 million after taxes. congratulations to them. very lucky. >>> there is a machine that could one day be used to make homemade guns, not only that, it could make plastic guns that a metal detector won't find. you can believe some people are worried about it. here is joe johns with more. >> reporter: in the this northern virginia gun store you can buy all sorts of weapons but what if you could make weapons in your own home using a three-dimensional printer. sounds like science fiction but to some it's not far-fetched. >> primarily 3-d printers are used to manufacture parts for antiq
market news, a lot of talk about china this morning. a final reading of hsbc's manufacturing purchasing manager's survey for china rising in november, first time above the key 50 mark which indicates expanding rather than contraction. it's been since october of last year. also abroad greece announcing it will buy back bonds through a dutch auction. the set up whether allow athenss to assess the level of demand before setting a final bryce for the deal. part of the country's efforts to cut its about a along debt. and in germany, merkel is not ruling out the possibility of notifying greece some of its debt once athens finances are in better shape. angela merkel told a german tabloid that the question of the so-called haircut can be revisited. in the past, merkel's government had ruled out forgiving any debt. >> in corporate new, ubs is reportedly close to a settlement. the "new york times" says the swiss bank is expected to pay horn $450 million over claims that some of its employees submitted false libor rates. that's pretty huge story and we will take a look and ten to see what happens
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